Corn: December corn climbed 3 1/2 cents to $4.37 and closed near mid-range. That marked a 10-cent gain on the week. Corn futures showed promising gains early in the session but ultimately succumbed to persistent selling pressure late in the session.
Soybeans: August soybeans rose 2 cents to $10.56 1/4 and marked a 22 1/4-cent weekly gain. August meal rose 60 cents to $277.40 and forged a $1.80 gain on the week, while August soyoil slid 47 points to 54.55 cents, and still notched a 207-point weekly gain. Soybeans firmed for the third straight session, recapturing a notable portion of the recent selloff.
Wheat: December SRW wheat futures fell 5 3/4 cents to $5.78 1/4, near the session low and on the week up 15 1/4 cents. December HRW wheat futures lost 5 1/4 cents to $5.60 3/4 and near the daily low. For the week, December HRW rose 4 cents. September spring wheat fell 1 3/4 cent to $6.47 1/4, but up 19 1/4 cents on the week. The winter wheat futures markets saw some mild profit-taking pressure to end the holiday-shortened trading week.
Cotton: December cotton closed down 17 points to 68.46 cents, and marked a weekly loss of 86 points. Cotton futures paused following Wednesday’s gains as a firmer U.S. dollar and weaker crude oil negated support from rallying equities.
Cattle: August live cattle futures rose $1.60 to $214.05 and nearer the daily high. For the week, August cattle rose 75 cents. August feeder cattle futures gained 47 1/2 cents to $309.50 and nearer the session high. For the week, August feeders gained $1.60. This holiday-shortened trading week was a choppy one for cattle market traders, but the bulls are not too disappointed as futures prices have rebounded well off the late-June lows and today saw a technically bullish weekly high close in August live cattle futures.
Hogs: August lean hog futures sunk $1.80 to $106.10 and closed nearer session lows. That marked a $4.175 drop on the week. Hog futures ended the week on a bearish note, reflecting continued weakness in cash fundamentals.